NEW YORK (TheStreet) -- U.S. markets rose on what new Federal Reserve Chairwoman Janet Yellen told the House Financial Services Committee Tuesday, but that has not translated into long-term gains Wednesday so far.
While global equities are higher on Wednesday, U.S. stocks are mixed after initially jumping at the open, said TheStreet's Ruben Ramirez.
Deere (DE) is lower on Wednesday. The weakness may come as a surprise since the company beat on the top and bottom lines and reaffirmed 2014 guidance, Ramirez said. Perhaps not helping was Deere's expectation for farm equipment sales to fall in 2014 on lower commodity prices for farmers.
Turning to Toyota Motors (TM), the company is recalling 1.9 million hybrid cars due to a software malfunction. The glitch could result in some of the car's transistors overheating, which would cause the hybrid system to shut down, bringing the car to an abrupt stop.
Home Depot (HD) will reportedly hire 80,000 seasonal workers for its busy spring season, Ramirez said.
He called Home Depot one of the few bright spots in the retail space, which has suffered from low margins and less foot traffic than previous years. Home Depot continues to benefit from the rebounding housing market.
-- Written by Bret Kenwell in Petoskey, Mich.